Is Selling a House by Owner Smart in Today’s Real Estate Market?

With no earlier experience in home selling by owner, it is likely to be extremely time-consuming, hectic, and challenging. Not being a seasoned real estate broker, varieties of weird queries, snooping and criticism from viewers can make you feel frustrated, emotional and bogged down. However, keep in mind that FSBO project has been established one of the top successful realty business models in the recent years similar to discount brokers market. National Association of Realtors review report shows that whereas FSBO sellers are successfully closing their 98% deals with their asking rate, home sellers are getting 92% of the deal closed with average $5000 less than the asking rate from traditional market.

Therefore, result is quite impressing. Even though as a first timer in home selling, making mistakes is quite natural, however, with a good planning and know-how about the realty market, you can definitely dodge those common pitfalls likely to strike you on the way. In a nutshell, the process requires you to play really smart keeping you away from all shots of emotional attachments with the memories of your home and act as a shinning businessperson.

Your Project Begins

Smart Step 1

Be Realistic: Keep in mind, one of the key causes of FSBO or discount realtor project fail is offering an unrealistic price. As per the market experts, pricing is a great art that determines how long it can sit unsold in the market. For you, the ideal way is, comparing home price of your neighboring while you’ve to think the condition, facilities and plus points of your home which will add on its price. In the recent years, if you’ve have remodeled the bath or kitchen, that is going to a bonus. You can go through online price appraisal service with a minimum cost or hire a home appraiser.

Smart Step 2

Never Stick to Your Price: The market is intensely cutthroat especially for home sellers. Sticking to your offer price inflexibly can make it unsold for years, instead be realistic, and play smartly. Simply because you don’t need paying a bulky commission to any broker why bother to reduce the price by 2-3%, which will make it fast moving?

Smart Step 3

Home Refurbishment: Cleaning thoroughly from the roof to the yard, de-clattering the area, addressing the major fixing issues and a fresh paining is essential to make it eye-catchy, odor free and appealing to the potential buyers. To feel better, think you in the position of a buyer, which can help you sidestep your long familiarity with its trouble issues. This is absolutely not throwing of money but will help you get higher return and fast closing of the deal.

Smart Step 4

Use Multiple Listing Service: To order to make your home viewed by prospective homebuyers globally, the ideal choice is signing up with flat fee MLS service. Just by paying the registration fee, you can avail the advantage of being listed in the popular-most online site. Before, putting the ad, never overlook the process of hiring a professional photographer experienced in the domain. They have great ideas to get stunning photo images from different angles appealing to buyers. Put the details of specification of your home, mentioning total area, facilities including garage, lawn, balcony, number of rooms, backyard etc.

Keep Cool and Smiling: Be welcoming to your buyers and remain cool to answer all their questions in smiling face. You can also think of an open house. And, last but not the least, once you decide to sell the home, hire services of a specialist attorney to get his valued guidance throughout the process and avoid all sorts of legal implications.